Page Length: | 10-12 | |
Last Quarterly Update: | 8/12/2024 | |
SIC Codes: | 7532, 7536 | |
NAICS Codes: | 81112 |
Chapters Include: | ||
Industry Overview | Trends & Challenges | Industry Forecast |
Quarterly Industry Update | Call Prep Questions | Website & Media Links |
Business Challenges | Financial Information | Glossary & Acronyms |
Companies in this industry are primarily engaged in providing automotive body, paint, interior, and glass repair and replacement services for passenger cars and light trucks. Major companies include Maaco, Pittsburgh Glass Works, Safelite Group (a subsidiary of Belron SA), and Service King Paint & Body (all based in the US), as well as Belron and Carglass (both in Europe).
As more vehicles crowd roads worldwide, demand for repair and replacement services is expected to rise. In 2022, China is the world's largest car market, followed by the US and Europe, according to Statista. Emerging markets in Latin America and Asia will dominate future growth for cars and car repair. India, became the third largest auto market in 2022 displacing Japan with about 4.5 million units sold, according to Autocar India. Overall, global car sales are expected to 86.8 million by 2023, lower as compared to the prior year, according to Reuters.
The US automotive body, paint, interior, and glass repair industry includes about 42,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $43 billion.
COMPETITIVE LANDSCAPE
Demand depends the number of cars on the road and on miles driven. Severe weather events such as hail storms and flooding, may trigger localized spikes in demand for auto body and glass repair, as well as paint services. The profitability of individual companies depends on convenient locations and effective ...
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